Product/Service
CoinSwitch Kuber, a cryptocurrency exchange platform in India, makes the steps of investing in digital currencies very easy to accomplish. The platform has an easy-to-use interface which makes the trading as seamless as it can be, offering a diverse portfolio of cryptocurrencies. CoinSwitch Kuber offers both beginners and experienced investors the simplicity and security of their crypto investment diversification.
Objective
The primary objective of CoinSwitch Kuber’s sports campaigns was to maximize brand visibility among young, tech-savvy Indian consumers. This demographic was identified as being more open to experimenting with innovative investment platforms, such as cryptocurrency.
Target audience
The campaign focused on a segmented premium audience, particularly targeting young adults within the age range of 18-24 years. This group was recognized for their tech-savviness and willingness to explore new investment avenues.
Geography
The campaign was centered around the Indian market, leveraging the widespread popularity and reach of the Indian Premier League (IPL) 2021.
How Did CoinSwitch Kuber Aim to Boost Brand Visibility by Sponsoring IPL 2021
- The primary objective of CoinSwitch Kuber’s campaign was to elevate its brand visibility and awareness significantly. To achieve this, CoinSwitch Kuber strategically positioned itself as an Associate Sponsor of the Indian Premier League (IPL) 2021, hosted on Disney+ Hotstar.
- Disney+ Hotstar, as a streaming platform, boasts a vast and diverse viewership. By aligning with IPL, one of India’s most watched sporting events, CoinSwitch Kuber tapped into this extensive audience base.
- The platform is known to attract a relatively affluent audience, which aligns well with CoinSwitch Kuber’s target market – individuals who have the means and interest in investing in cryptocurrency.
What Strategies Did CoinSwitch Kuber Use to Identify and Engage Their Ideal Cryptocurrency Investors
- By segmenting the audience based on the price of the devices they used, CoinSwitch was able to infer the economic status and spending power of their target audience. Higher-priced device users were likely to have more disposable income, making them ideal prospects for cryptocurrency investment.
- This metric allowed CoinSwitch Kuber to specifically target audiences using smart TVs and other connected devices, indicative of a tech-savvy and modern consumer base. These are individuals who are more likely to be receptive to new technologies and investment platforms like cryptocurrency.
Can CoinSwitch Kuber’s Geographical Reach Through IPL Sponsorship transform crypto investments in India?
- IPL enjoys a fan base that cuts across various states and regions in India, making it an ideal platform for a campaign aiming for national reach.
- The widespread appeal of IPL ensured that the campaign reached a diverse demographic, spanning different age groups, income levels, and urban and rural areas, thereby maximizing the potential audience for CoinSwitch Kuber.
Campaign Execution
The CoinSwitch IPL campaign’s execution was centered around the strategic use of mid-roll advertisements in conjunction with a companion carousel. This dual approach was meticulously designed to captivate the audience’s attention and enhance brand communication during the highly engaging IPL matches.
Mid-Roll Advertisements
- Mid-roll ads are placed in the middle of a video stream, in this case, during the live broadcast of IPL matches. This timing is critical as it captures viewers when they are most engaged – in the midst of an exciting cricket match. Unlike pre-roll ads that play before the content starts, mid-rolls have the advantage of holding the viewer’s attention who are less likely to skip or ignore these ads.
- The mid-roll advertisements were likely tailored to be contextually relevant to the IPL viewers. This means the content of the ads would resonate with cricket fans, perhaps drawing parallels between the strategies in cricket and smart investment decisions in cryptocurrency, thus making the ads more relatable and effective.
- These ads are typically shorter, ensuring that they communicate the key message succinctly without causing significant disruption to the viewing experience. The frequency of these ads would be calibrated to strike a balance between visibility and viewer experience.
Companion Carousel
- A companion carousel is an interactive ad format that accompanies the primary video content. In the case of the CoinSwitch campaign, while viewers watched the mid-roll ads, the companion carousel would simultaneously run, providing an additional layer of engagement.
- This format allows for multiple creatives or messages to be displayed. CoinSwitch could showcase different aspects of their service, such as ease of use, security features, and a variety of cryptocurrencies available on their platform. This repetitive and varied presentation helps in better brand recall.
- The carousel likely included calls to action (CTA), encouraging viewers to directly engage with the brand – be it visiting CoinSwitch’s website, downloading their app, or exploring investment options. This direct engagement path is crucial in converting viewer interest into tangible action.
Results
Aided Awareness
- The campaign led to an 18% increase in overall audience awareness about CoinSwitch Kuber. This indicates that compared to pre-campaign levels, a significantly larger percentage of the total audience became aware of the CoinSwitch brand and its services.
- More notably, there was a 27% increase in awareness among the younger demographic (ages 18-24). This is a critical insight as it demonstrates the campaign’s effectiveness in resonating with and capturing the attention of young, tech-savvy individuals who are potentially more open to cryptocurrency investments.
Message Association
- There was a 12% increase in the overall audience’s recognition and association with the brand’s message “Trade kar befikar.” This phrase, translating to ‘trade without worries’, was designed to instill a sense of ease and security in investing in cryptocurrencies through CoinSwitch Kuber. The increase indicates that the campaign successfully implanted this message into the audience’s perception of the brand.
- Even more impressive is the 18% uplift in message association among the younger demographic. This age group is not only crucial for their current investment potential but also represents the future of investing trends.
- The stronger association within this group suggests that the campaign was particularly effective in aligning the brand’s message with the values and preferences of younger consumers.
Purchase Intent
- The campaign achieved a 10% uplift in purchase intent across the entire audience. This means that there was a noticeable increase in the number of individuals who were more likely to consider using CoinSwitch Kuber for cryptocurrency investments after being exposed to the campaign.
- Remarkably, there was a 20% increase in purchase intent among the younger audience. This significant rise indicates a strong inclination towards action – not just in terms of brand recognition or message recall, but in the crucial aspect of moving towards actual usage of CoinSwitch’s platform.
- The higher percentage uplift in the younger demographic underscores the campaign’s effectiveness in not only reaching this group but also in persuading them to consider CoinSwitch Kuber as a viable platform for their investment needs.
